Challenges to a full economic recovery remain. New York City was hit earlier and harder by the pandemic and has experienced a disproportionate share of the impact.
“ The Agency Watch List spotlights city agencies that raise the most budgetary concerns due to rapidly increased spending and meager measurable results. The following report reviews trends to evaluate the effectiveness of agency spending in achieving the Administration’s stated goals.”
“The Agency Watch List spotlights city agencies that raise the most budgetary concerns due to rapidly increased spending and meager measurable results. The following report reviews trends to evaluate the effectiveness of agency spending in achieving the Administration’s stated goals.”
Audit report of the New York City Police Department to establish whether the agency has an effective management in place to account for its collection, recording, and reporting of seized property.
Presentation of the audit report of New York City Department of Education to confirm if the agency has enough management over its Medicaid claims to raise its Medicaid reimbursement revenue for special education services.
Presentation of the audit of the New York City Department of Education to verify whether the agency has sufficient oversee in place over the distribution of remote learning devices between March 2020 and March 2021.
Presentation of the inquiry by the office of the New York City Comptroller into the City’s
COVID-19 planning, preparation, initial response, and recommendations actions to prevent
like fiscal and operational challenges from starting in future public health emergencies.
Presentation of the audit report on New York City Fire Pension Fund to determine if the Fire Pension Fund had enough management in place to control improper benefit payments to deceased recipients.
Making the Grade is an annual report that issues letter grades to City agencies based on their level of success spending with minority- and women-owned business enterprises (M/WBEs)
The City began 1Q22 with $8.469 billion in cash-on-hand, compared to $6.627 billion opening balance last year. Total receipts in the quarter rose 9.3%, while expenditures increased 10.8%. Overall, cash receipts exceeded cash expenditures by $333 million in 1Q22.
FY22 began with $8.469 billion in cash-on-hand, compared to $6.627 billion in the beginning of FY21. However, the gap between current cash balances and prior year cash balances quickly disappeared, and FY22 cash balances have been running close to year-ago levels ever since.
The Comptroller’s Office is committed to maintaining a workplace that preserves fair employment practices and reflects the community in which we work and live. Described are key initiatives and accomplishments that that the agency undertook last fiscal year (2021).
The U.S. economy continued to rebound in the first three quarters of 2021 after the dramatic economic contraction and rebound of 2020, growing at a rate of 5.7 percent. Growth early in the year was boosted by the $1.9 trillion American Rescue Plan Act, passed into law in March.
Committed to making substantial reforms early on in their administrations and working collaboratively to address these challenges, Mayor Adams and Comptroller Lander announced the establishment of the Task Force on Nonprofit Contracting (“Task Force”) convened as a part of the transition process.
On December 1, 2021, New York City’s unrestricted cash balance reached a seasonal low of $1.338 billion, compared to $2.143 billion in FY21 and $1.769 billion in FY20.
At the end of 2Q22, the City recorded an unrestricted cash balance of $6.513 billion. Typically, the lowest daily cash balance of a fiscal year occurs during the second quarter.
The Preliminary Budget closes the $2.88 billion budget gap projected in November, on the strength of an expected $2.77 billion surplus in FY 2022, derived primarily from $1.60 billion in additional tax revenues and savings of $866 million from the Program to Eliminate the Gap (PEG).
New York City’s current property tax system is notoriously opaque, unfair, and regressive. For the past four decades, rather than dealing with its structural flaws, New York State has layered on a patchwork of exemptions and abatements to lower tax rates for various owners.
Advancing the vision of a smaller, safer and fairer jail system remains one of the City’s most pressing challenges and will necessitate collective action on the part of all criminal legal system stakeholders.
The New York City Department of Education (DOE) is receiving $7 billion in total federal Covid recovery funding dedicated to K-12 education under the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA) and the American Rescue Plan Act (ARPA)
The City of New York is at a pivotal fiscal moment. Tax revenues for the current fiscal year are coming in far above projections, yielding a substantial surplus; however, neither the Mayor’s Office nor the Comptroller’s Office expect this trend to continue.
As of May 31, 2022, the cash balance stands at $7.632 billion, compared to $9.996 billion at the same time last year. This difference in balances is primarily due to the timing of Federal aid receipts, as described further below.
The City of New York began the third quarter of FY22 (hereafter 3Q22) with $6.513 billion in cash. By the end of the quarter the City had $8.961 billion, $3.111 billion lower than during the same time last year.
A quarterly cash report for New York City. At the close of FY 2022 (on June 30, 2022), the City recorded the end-of-year cash balance of $8.159 billion, compared to $8.469 billion a year ago. Daily cash balances during FY22 averaged $7.524 billion, $831 million below the prior year’s number.
The purpose of this report is to provide a comparative analysis of the overall financial activities of union-administered benefit funds that received City contributions.
This report analyzes progress on resiliency capital spending to date, after Superstorm Sandy. The report goes on to provide a snapshot of the property values, land uses, and essential infrastructure in the coastal floodplain, illustrating the range of critical assets at risk.
In accordance with New York City Charter §93(l), the Annual Comprehensive Financial Report (ACFR) is published within four months after the close of each fiscal year.
This report details allocations to MWBE asset management firms managing assets for the New York City Retirement Systems, the status of “emerging manager” programs, the MWBDVE Brokerage Program for the Retirement Systems, the efforts of the Bureau of Public Finance to expand work with diverse firms.
Report detailing the Comptroller’s Office’s work with minority- and women-owned investment firms and emerging managers and with MWBE professionals in municipal finance.
Over the past several months, more than 19,000 asylum seekers have arrived in New York City, including more than 5,500 students who have entered the public school system. These children – who have little English proficiency, varying degrees of grade level readiness, possible special education needs,
To inform the City’s rulemaking process, the Office of the New York City Comptroller reviewed how emissions calculations and the use of Renewable Energy Credits should be best structured to maximize LL97’s climate, environmental, economic, and health benefits.
The PAFR serves as an accessible guide to the ACFR for residents and explains New York City government and finances in a concise and easy-to-understand manner. The PAFR is also enhanced with several explanatory visuals for readers.
The Popular Annual Financial Report provides an accessible overview of the financial details contained in our 500-page Annual Comprehensive Financial Report.
An audit to determine whether NYCEM appropriately monitored the performance of SLSCO LP (SLSCO)—a vendor contracted to manage COVID-19 vaccination sites—and whether its invoices were properly reviewed and approved.